TEMECULA, Calif.--(BUSINESS WIRE)--Patient Safety Technologies, Inc. (PST) (OTCBB:PSTX) announced today that it has closed on an additional $2.5 Million in financing in its recent private placement, bringing the total amount of equity capital raised during the current year to $3.6 Million. The use of proceeds will go towards further capitalizing SurgiCount Medical in its efforts to gain marketshare. Investors of the $2.5 Million received 2 Million shares of the Company’s common stock and a warrant to purchase an additional 1 Million shares of the Company’s common stock at an exercise price of $2.00 per share. It is noteworthy to mention that approximately 25% of the $2.5 Million came from corporate insiders and executives of either PST or SurgiCount Medical.
